Wellington Management Group LLP Grows Position in Amgen Inc. (NASDAQ:AMGN)

Wellington Management Group LLP boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 22.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 293,675 shares of the medical research company's stock after purchasing an additional 54,321 shares during the period. Wellington Management Group LLP owned about 0.05% of Amgen worth $76,543,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Beck Mack & Oliver LLC raised its stake in Amgen by 0.7% during the 4th quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company's stock worth $1,205,000 after acquiring an additional 34 shares during the period. Continuum Advisory LLC boosted its holdings in Amgen by 0.7% in the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock worth $1,343,000 after buying an additional 35 shares during the period. Blossom Wealth Management raised its holdings in Amgen by 3.5% during the fourth quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company's stock valued at $284,000 after acquiring an additional 37 shares during the period. Zullo Investment Group Inc. raised its stake in Amgen by 2.8% during the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company's stock valued at $356,000 after purchasing an additional 37 shares during the period. Finally, Trillium Asset Management LLC grew its holdings in Amgen by 4.2% during the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company's stock valued at $237,000 after buying an additional 37 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

Amgen Stock Up 0.4%

Shares of NASDAQ:AMGN traded up $1.17 during trading on Monday, reaching $289.35. The stock had a trading volume of 797,110 shares, compared to its average volume of 2,798,862. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The company has a market capitalization of $155.58 billion, a P/E ratio of 38.30, a PEG ratio of 2.63 and a beta of 0.51. The firm's 50-day simple moving average is $283.46 and its 200 day simple moving average is $285.23. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.18 by $0.72. The business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. Amgen's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.96 EPS. As a group, research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.29%. Amgen's dividend payout ratio is currently 86.86%.

Analyst Ratings Changes

Several equities analysts recently weighed in on AMGN shares. Bank of America raised their target price on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research note on Wednesday, March 5th. Erste Group Bank cut Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Royal Bank of Canada dropped their price target on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Wall Street Zen upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. Finally, UBS Group restated a "neutral" rating and issued a $315.00 target price (down from $319.00) on shares of Amgen in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $309.22.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.